Primoris Services Co. $PRIM Stock Holdings Decreased by Creative Planning

Creative Planning trimmed its position in Primoris Services Co. (NASDAQ:PRIM) by 2.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,403 shares of the construction company’s stock after selling 398 shares during the period. Creative Planning’s holdings in Primoris Services were worth $1,356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group boosted its position in Primoris Services by 3,626.7% during the 1st quarter. Brooklyn Investment Group now owns 559 shares of the construction company’s stock valued at $32,000 after purchasing an additional 544 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Primoris Services by 85.4% in the second quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company’s stock valued at $38,000 after acquiring an additional 223 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Primoris Services by 6,687.5% during the second quarter. Parallel Advisors LLC now owns 543 shares of the construction company’s stock valued at $42,000 after acquiring an additional 535 shares during the period. NewEdge Advisors LLC increased its stake in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock valued at $43,000 after acquiring an additional 194 shares during the period. Finally, Twin Tree Management LP acquired a new stake in Primoris Services in the first quarter worth approximately $59,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PRIM shares. DA Davidson upped their price objective on Primoris Services from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Roth Capital assumed coverage on shares of Primoris Services in a report on Thursday, October 9th. They issued a “buy” rating and a $170.00 price target for the company. Glj Research assumed coverage on shares of Primoris Services in a research note on Monday, September 22nd. They issued a “buy” rating and a $160.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Primoris Services in a research note on Monday, November 24th. They set a “sell” rating and a $117.00 target price for the company. Finally, Jefferies Financial Group restated a “buy” rating and set a $161.00 target price on shares of Primoris Services in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.71.

Insider Transactions at Primoris Services

In other Primoris Services news, Director Michael E. Ching sold 2,935 shares of Primoris Services stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $119.89, for a total value of $351,877.15. Following the completion of the sale, the director directly owned 9,534 shares in the company, valued at $1,143,031.26. The trade was a 23.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeremy Kinch sold 3,006 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $124.00, for a total transaction of $372,744.00. Following the transaction, the chief operating officer owned 9,580 shares in the company, valued at approximately $1,187,920. This trade represents a 23.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,932 shares of company stock worth $2,869,099. 1.40% of the stock is owned by company insiders.

Primoris Services Stock Performance

Shares of PRIM stock opened at $126.56 on Friday. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 41.91 and a beta of 1.45. Primoris Services Co. has a 1-year low of $49.10 and a 1-year high of $146.16. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $132.11 and its 200-day simple moving average is $106.66.

Primoris Services (NASDAQ:PRIM) last released its earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.51. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, sell-side analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, December 31st. Primoris Services’s dividend payout ratio (DPR) is currently 6.31%.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.